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What a Mortgage Broker Can Do For You

Ottawa mortgage broker: Capital Mortgages

What a Mortgage Broker Can Do For You

What a Mortgage Broker Can Do For You: A Basic Guide

Mortgage qualifying rules keep changing, interest rates are fluctuating, and you don’t know if you should put less down payment or more down payment or whether you should apply for a fixed or variable mortgage… Are you thoroughly confused? We can help. Capital Mortgages is your Ottawa Mortgage Broker

Who is a mortgage broker?

Most people associate a mortgage broker with a particular type of lender. This is incorrect.  Lenders offer mortgage brokerage services, and so do mortgage brokers. The difference is that a broker works for a certain company, while the lender does not.

This brings us to Section 2.

Section 2: What is a mortgage broker’s role?  The ultimate goal of a mortgage broker is to assist you through the mortgage process and to help you avoid problems. In addition, a mortgage broker typically has the skills needed to provide his client with accurate information and a smooth mortgage experience.  A mortgage broker uses tools and techniques that save you time, money, and effort. It’s a comprehensive service that would normally require years of experience to perfect.

Why do you need a Ottawa mortgage broker?

Mortgage broker can help you with the following:

Know what to expect when applying for a mortgage

Understand your financial circumstances

What you should know when looking for a mortgage broker

How you can get a better mortgage rate

What is a good mortgage broker?  The difference between a mortgage broker and a mortgage agent is the latter can only provide services relating to mortgages, you may ask why would I need one. Simply put, mortgage brokers do not work for banks. Instead, they work directly with home owners, and this gives them the advantage of learning their clients’ personal financial circumstances.

Mortgage Brokers Help You Stay In the Lead.  Mortgage brokers help you stay in the lead when it comes to your mortgage.

How can a Ottawa mortgage broker help you?

If you are a home owner and would like to get a new mortgage but are not sure how to go about doing it, first of all you need to know why it is important for you to get a new mortgage. A mortgage is different from other loans; it has a bigger impact on your financial life.  A mortgage is a type of loan that you can apply for to buy a house and pay it back over the period of time.

Types of mortgages  There are three types of mortgages in the market;

1. Fixed rate mortgage

2. Variable rate mortgage

3. Length adjustable rate mortgage

If you get a fixed rate mortgage, the rates keep staying the same from one month to another. For example, if you will apply for a 30 year fixed rate mortgage, it means that you will pay a lower amount every month in terms of principal and interest.

Conclusion

In general, the more complicated your mortgage, the more confusing it is. A mortgage broker, on the other hand, can prepare you for mortgage stress tests, along with helping you find a good mortgage lender and handle any pre-approval issues.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

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